PRACTICE MONITORING & QUALITY ASSURANCE

When you apply for or renew your practising certificate, you agree to co-operate with AIA in our quality assurance programme, with regards to monitoring and enforcement of compliance with the AIA Bye-Laws, the practising regulations as detailed in the Member in Practice Guide and the Money Laundering Regulations 2017.

As part of AIA’s quality assurance programme you will be subject to regular monitoring visits designed to ascertain the level of compliance with the above by enabling you to demonstrate that you have adequate policies and procedures in place, which can be verified by an AIA Quality Assurance Adviser.

Information on the frequency, purpose and structure of monitoring visits, advice on how to prepare for monitoring and the provision of post visit guidance are available in a separate AIA booklet Monitoring Visit Guide.

AIA members are professional qualified accountants having undertaken the AIA’s professional qualification, or equivalent. All AIA members must undertake Continuing Professional Development, adhere to AIA practising regulations and abide by the International Federation of Accountants (IFAC) Code of Ethics.

AIA is regulated by the Financial Reporting Council (FRC) and the Irish Auditing & Accounting Supervisory Authority (IAASA), and has supervisory status for its members in the Money Laundering Regulations 2017.

AIA QUALITY ASSURED

AIA Quality AssuredAIA monitors practices to ensure that our members are maintaining the high level of professionalism expected from them. The AIA Practice Monitoring programme incorporates quality assurance and anti money laundering compliance aspects.  Upon successful completion of a Practice Monitoring visit, the practice will be awarded the 'AIA Quality Assured' logo and is given in recognition that the practice has committed to:

  • Maintaining high professional and ethical standards;
  • Implemented robust and suitable anti money laundering measures; and
  • Establishing the appropriate systems and procedures to comply with the AIA’s practising regulations.

WHAT DOES THIS MEAN FOR CLIENTS?

Using a professionally qualified accountant means you are putting your business in safe hands. AIA members have committed to a professional qualification and are required to undertake continuous study to ensure they are up-to-date with changes in the profession.

Whilst AIA makes every effort to ensure all members meet high professional and ethical standards, are abreast of changes in the profession and maintain their career knowledge through CPD, AIA Quality Assured status does not guarantee the accuracy of technical advice, however, AIA members in public practice must have professional indemnity insurance to cover the risk in the unlikely event that they give you bad advice or are negligent in handling your affairs. On those rare occasions when something does go wrong, you can complain about their behaviour to AIA, who can begin disciplinary action.

Members that are supervised by AIA under the Money Laundering Regulations 2017 are also subject to a Practice Monitoring process.